Spring Budget 2020 – Income Tax Rates & Allowances
As expected, it has been confirmed that the 2020-21 personal allowance will be maintained at £12,500 and the basic rate limit at £37,500. As a result, the higher rate
Savings, dividends and total income
Savings income and dividends are taxed at the recipients' highest tax rate.
The relevant legislation in ITA07/S16 sets out the following rules.
If a person has savings
Could you claim the marriage allowance?
If you are entitled to the marriage allowance and have not yet applied, you could receive a payment of up to £1,150 from HMRC. HMRC used the occasion of Valentine’s Day
Tax if you return to the UK
There are tax implications that you will need to consider if you previously left the UK to live abroad and are now returning to live and work in the UK or are considering such a
Rent a room relief 2019-20
The rent-a-room scheme is a set of special rules designed to help homeowners who rent-a-room in their home. The current tax-free threshold of £7,500 per year has been in
Student and postgraduate loans
If you have a student loan, have finished your studies and entered the workforce you must begin to make loan repayments from the April after you have finished your studies or when
Scottish Income Tax rates announced 2020-21
Public finance minister Kate Forbes delivered her first Budget statement to the Scottish Parliament on 6 February 2020. This followed the shock resignation of finance minister,
Review occupancy for Holiday Lets owners
The furnished holiday let (FHL) rules allow holiday lettings of properties that meet certain conditions to be treated as a trade for tax purposes.
In order to qualify as a
Still time to plan for tax year 2019-20
As the deadline for submitting your 2018-19 tax return has passed, now is a good time to focus on the 2019-20 tax year. It is important to carry out an annual review and ensure
Did you miss the Self-Assessment deadline?
Are you among the over 958,000 taxpayers that missed the 31 January 2020 filing deadline for 2018-19 Self-Assessment returns? If you missed the filing deadline you will be charged